Ok, so I really need help..and fast..

[madamleota]

I currently have a contract with Disney for 176 points @ SSR. We signed the contract (2nd one) about a week ago.

Long story short, my guide is less than acceptable or accessible. I've been having second thoughts, not about DVC in general, but rather.Disney vs.resale.

I am wondering if I am just having cold feet? I have no doubt whatsoever that I want DVC and I want it as soon as possible. I just really don't want financing.

I've weighed both sides, and really both sides are equal except the 2 major sticking points..

1. Have more points now and finance for several years, or
have less points now and no monthly payments.
2. I really want to own @ Old Key West, but having the extra years
@ SSR are tempting too.

There were some good posts on another board...eh hm..that kinda gave me some direction. But wanted to hear from you all.

Help, I don't have much time. Also, since my guide is not the greatest, if I asked him to cancel the current contract and let me get my head straight, do you think he would or could??
I'm done...any advice?? :sherlock:

[AFMom]

I don't know at what point you can still cancel - sorry no help there - but you can certainly ask to change guides. Just call MS and instead of calling the guide directly and ask to speak to a supervisor/manager and tell them you'd like to be reassigned. I know others have done this - and it's worked out ok.
I'd say to call tomorrow asap and see where you're at as far as options - whether you're even at a point to be worrying about it or not - it may already be a done deal.... if you can still cancel the deal - and if you're really not sure - you can always cancel, get a new guide, and reconsider your options at your own pace without feeling so stressed and rushed.
Good luck! :goodvibes

[PoohsPal]

You have 14 or 15 days to cancel after you put down your deposit. You should be fine.

You can always buy a small contract at @OKW resale and add on at SSR later. Once you're in the system, you can add on through Disney or resale. That way you could do things slowly w/o financing.


Good to see you here!

[cobbler]

Rather lengthy so bear with me.

Ok, I did NOT want to finance our DVC. Not at all. I figured if we had to finance it then it wasn't time for us to buy it. Well we took the tour and even told our guide we weren't going to be buying for another 4 years but wanted to get an idea of what it was really about and answer questions we may have.

We we looked at how much it would cost to finance because it's always nice to have the numbers. Hubby and I talked about it on the way home. We figured at the lower interest rates we are having today we figured how much we would save and how much interest we would make. We figured a little generously in our interest income, not to much but a figured at a percentage a bit higher than now.

Ok, so we came up with a total that we would have in cash in 4 years when we wanted to buy. Then we took a look at the possibility of how much points will cost in 4 years. We figured 105 per point which is probably right around what it will be and maybe even low since technically without the incentive SSR is selling at 98. Even with the incentives and such figured 105 would probably be around par.

Well then we figured how much we would spend right now if we financed it for 10 years but really paid it off in 3.5 - 4 years, actually putting what we would have saved towards the payments. Well guess what, we actually came out ahead financing at 83.30 a point then having very little interest accumulate and buying at 105 a point. So we went ahead and financed.

Not to mention that we would be going to Disney anyway and starting in 06 we were moving up to the deluxes. So that was money we were giving them in accomodations no matter what.

So we went ahead and financed. We actually bought a few more points at the 83.30 per point then if we would have had the 90 per point deal.

On 220 points, Disney's portion of the down payment was 3234. That portion actually ended up being more than any interest we could save over the next couple of years. And what we will pay in interest if we pay it off in 3.5 years is less than that.

So crunch the numbers. It sounds strange but we actually are saving money to finance.

[ripleysmom]

That is a very good point about buying now versus later.

If we had waited to buy our points they would have cost about $20 more per point (we paid $65 in 2000) so our finance costs have basically been paid for by the change in price per point.

[DSNY FN]

I currently have a contract with Disney for 176 points @ SSR. We signed the contract (2nd one) about a week ago.

Long story short, my guide is less than acceptable or accessible. I've been having second thoughts, not about DVC in general, but rather.Disney vs.resale.

I am wondering if I am just having cold feet? I have no doubt whatsoever that I want DVC and I want it as soon as possible. I just really don't want financing.

I've weighed both sides, and really both sides are equal except the 2 major sticking points..

1. Have more points now and finance for several years, or
have less points now and no monthly payments.
2. I really want to own @ Old Key West, but having the extra years
@ SSR are tempting too.

There were some good posts on another board...eh hm..that kinda gave me some direction. But wanted to hear from you all.

Help, I don't have much time. Also, since my guide is not the greatest, if I asked him to cancel the current contract and let me get my head straight, do you think he would or could??
I'm done...any advice?? :sherlock:


You can still cancel but if you buy resale your name is still in teh system and the same guide will be placed with you regardless. So if it is the guide that is the problem after you purchase just be sure to call and talk to others on days he/she is off problem solved LOL.

[madamleota]

Thanks for the great posts, I have been crunching numbers and calling everybody involoved...Here is the update..

My guide is still out..go figure..so I talked to another person and told them my situation. He was AWESOME!! I asked him about requesting him from now on, but that's another story for another time. Anyway, he told me that I was within my time frame to cancel the current contract for any reason, which included doing a new contract if I so choose..great!

He also told me that if I wanted to I could cancel this contract, write up another contract within the next couple of weeks to give me some time to think. He said that he believed the current incentive would be going on through at least 12/1/05, beyond that he didn't know..sounds reasonable.

So, I cancelled the current contract just because I am not sure of what I want to do. So that took a load off my mind..now fast forward to today.

I have been on a list of DVC resales looking for a contract @ OKW for XX amount of points (small alottment so I can easily pay cash)....Guess what??

You got it, the EXACT contract, EXACT use year and a fully loaded (with points) contract is available. Can you even believe this??

So, now I'm really stuck..do I take the smaller contract @ OKW fully loaded (only $78 per point too) and pay cash, or do another SSR contract??

Help divine DVCr's Im super confused!! The person who has this listing said she is going to wait until tonight (or if another offer comes in ) to call me for my decision. Everything is pending, and I don't know what I'm going to do..thanks!!

[Colorado Belle]

If you can afford cash, and $78 per point plus closing costs=an amount you like, and especially if the 2005 points are there and maintenance fees paid for
THEN you are probably close to the points cost for SSR.
You said less points so I'm assuming 100 and $450 closing costs which adds $4.50 a point to pp. Then, if it has 2004 and 2005 points coming with it (loaded), that is a savings.

I So you come to grips with the net cost of each resort and then the only two things that you have to consider are:
1. extra 12 years at SSR
2. which one you really like best (I think you said OKW)

[madamleota]

Great thoughts!! Actually they are only charging me $285.00 closing costs, and seller is paying MF for the 2005 points.

Now if I add all those perks into your equation then I am probably right at, or below the cost of SSR.

I am feeling guilty too that I am changing my mind so much, I hope people understand my indecisiveness and don't think I'm not serious about following through, because I definitely am. I will figure it out tonight...fingers crossed that the right decision will just jump right out at me.

[jaysue]

Great thoughts!! Actually they are only charging me $285.00 closing costs, and seller is paying MF for the 2005 points.

Now if I add all those perks into your equation then I am probably right at, or below the cost of SSR.

I am feeling guilty too that I am changing my mind so much, I hope people understand my indecisiveness and don't think I'm not serious about following through, because I definitely am. I will figure it out tonight...fingers crossed that the right decision will just jump right out at me.


Go with the OKW resale - you won't go wrong with that decision - the extra 12 years are 37 years away so hard to factor that into the decision at this point

Enjoy!

cheers
jaysue

[jnrrt]

And not to throw a monkey wrench into this, but I would make sure you think that OKW resale will pass ROFR at $78. It's likely, but it would be a bummer to go for it, and then have it bought back right after the SSR incentive ended. But I agree - it sounds like you want OKW, and that's looks like a great contract for you.

I hope it all works out!

[madamleota]

heavily leaning towards OKW. We are thinking that we will wait until the new property opens in a couple of years (maybe Contemporary or AKL?) then we can keep buying in small allotments and get the home resort we really want.

Will update you tomorrow...BTW, thanks for the monkey wrench...really got me thinking.. :Pokepoke:

[PoohsPal]

That sounds like a good plan. So, is that what happened last night? Inquiring minds, you know. ;)

PS - LOVE your snow globe!

[WDWSTAR]

I was actually going to suggest you buy OKW because that is what you want and you will have the 11 month booking. Then wait a few years and see what dvc resort will be next and i am sure you will still get the extra 12 years on the new dvc resort being offered next.
i would like to do an add on for BCV, but i thought we would wait until we hear what resort will be next.
if you are not ready to buy dvc you could always call your new guide and ask to be put on a waitlist for a resale of OKW thru disney, no cloising cost but the points $ are a little more then resale companies.

[bavaria]

I went the OKW resale route, for many of the reasons you describe. While I enjoyed a recent stay at SSR, I didn't have a real burning desire to buy there at the time.

A small resale got me in the door, and let me buy some time to decide what to do in future (and possibly buy at the next offering instead)

Best of luck whatever you decide!!

[dvcconvert]

So if it is the guide that is the problem after you purchase just be sure to call and talk to others on days he/she is off problem solved LOL.

This is something I picked up on. At anytime, any DVC'er can call MS and ask to be assigned to another guide.

HTH & Good luck with your decisions!

[vascubaguy]

I was curious if you had made up your mind.

I was just going to throw out there for you to consider why you want to purchase at OKW. If it is just for the 11 mo window, that may never be an issue unless you want a GV at OKW. Otherwise, I doubt you'd ever have much trouble booking OKW at the 7mo window and getting what you want.

If the prices are going to be about the same for OKW or SSR, I'd probably suggest SSR (mainly for the 12 extra years). ROFR is rather unpredictable right now and that OKW contract might not pass ROFR then you'd be out that contract and the SSR promo could be over before you found out.

I can understand not wanting to go the financing route, but remember, you could make a rather large deposit, then finance the balance for 10 years, but make larger payments and get it paid off asap. You wouldn't pay nearly as much interest.

HTH

[DSNY FN]

Ok not to put a damper on things but I had read that OKW contracts were being ROFR'd at 80 plus a point good luck if you go with the OKW resale.